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$ 4,800,000
Est. payment /mo
Price Dropped by $75K
251 Turnpike Road Southborough, MA 01772
3.81 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 73481502
HOA Y/N false
Year Built 1998
Annual Tax Amount $99
Tax Year 99
Lot Size 3.810 Acres
Acres 3.81
Property Description
251 Turnpike Road is a 3.81 acre site improved by a highly functional 15,500 SF light industrial building located along Route 9 in Southborough, MA. The property is 100% leased to two tenants, and priced at a 7.5% cap rate, offering investors long-term, and stable cash flow. The anchor tenant, occupying 10,500 SF, is an established dealership with 13-years of term and annual CPI rent increases. The second tenant has invested a significant amount of capital into its 5,000 SF and adds a complementary automotive use to building. The property offers convenient access to I-495 and exceptional visibility with approximately 600 feet of frontage. This stretch of Route 9 has signalized intersections about one mile in both directions and sees an average of 50,500 vehicles per day. The underlying zoning allows for a variety of uses and the ability to expand the existing building 35,190 SF.
Location
State MA
County Worcester
Zoning 99
Direction 251 Turnpike Road Southborough, MA 01772
Others
Senior Community false
Listed by Boston Realty Advisors